India’s electric vehicle (EV) market is witnessing a surge in the popularity of electric 2-wheelers. Currently, 8% of India’s 2-wheeler sales are electric, and this is expected to double to 15% next year. The government has been playing a crucial role in supporting the EV industry through subsidies under the Faster Adoption and Manufacturing of Electric Vehicles (FAME) scheme. While some countries like China and the UK are reducing or withdrawing EV subsidies, India continues to invest more in supporting the EV industry. TVS Motor, a leading 2-wheeler manufacturer, sold 25,000 units of its iQube electric scooter last month, which accounted for around 25% of their scooter sales in August.

Source: Economic Times September 12, 2023 18:56 UTC